Turkey building its largest ship

The increase in global ship construction and the increasing demand for large ships encouraged Metin and Nevzat Kalkavan to invest $120 million in the Sedef Shipyard. They have started work on producing a 180,000 dwt bulk carrier which will be a first for Turkey.

Construction began on what will be the first large tonnage ship to be produced in Turkey under a team of two of the leading ship owners in Turkey, Metin and Nevzat Kalkavan. When completed, the newbuilding will herald a new era in the Turkish shipping sector where, to date, the largest vessels are up to 30,000 dwt capacity.

Production for the ship at the Sedef Shipyard owned by Turkon Holding has required a $120 million investment at the shipyard. Planned to be delivered by 2008, the yard hopes to show the world exactly how far Turkey has come in the sector and what it is capable of.

Large tonnage ships were not produced in Turkey before due to a lack of investment in shipyards. The sector could not see its future clearly and therefore could not calculate “when the investment would return.” Therefore, everyone was hesitant to invest in shipyards. However, within the past few years, there has been great activity in the global ship construction industry and the orders received encouraged the Turkish shipyards. According to experts, the sector is going through its brightest period and will continue for at least another 10 years.